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216 Myers Rd

9,000 SF 100% Leased Office Building Summerville, SC 29483 $3,950,000 ($439/SF) 3.04% Cap Rate

Investment Highlights

  • Purchase and Occupy one suite or secure long term tenant
  • Building exterior completely renovated 2020
  • Vacant acre on the east side of the existing building which has ample space for another similar building
  • Potential $240,000 Annual NOI
  • 5 min from booming Carnes Crossroads development

Executive Summary

This two-unit, 9,000 SF office building has a Dental office as the anchor tenant in Suite A 4,500 SF with a 5-year lease term and $120,000 in annual revenue with Suite B 4,500 SF available to occupy or secure a similar tenant. Most recently it produced similar revenue to Suite A. There is a vacant acre on the east side of the existing building which has ample space for another similar building and therefore the ability to double the rental income on this property. It is located on a desirable, high traffic state road that connects 17-A and HWY 176. There is a new residential development adjacent to the property that is expected to hold ~220 rooftops with potentially ~200 more in second phase. Property is 5 min from booming Carnes Crossroads development. Building exterior completely renovated 2020 and interior was built to suit for each tenant at beginning of lease term. Zoned Rural and Neighborhood Commercial. Acuity Dental-Orthodontics is the active tenant with a 5-year lease and option to renew (1st renewal option in 2026 with an escalator). Approximately 1 acre of buildable land included in listing. See attachment for conceptual design of additional building. Conceptual drawings are purely conceptual and have not been submitted for any approvals. Cap rate reflects only one active tenant and would be approximately double with both units occupied.

Property Facts

Sale Type
Investment NNN
Property Type
Office
Property Subtype
Medical
Building Size
9,000 SF
Building Class
B
Year Built/Renovated
1993/2020
Price
$3,950,000
Price Per SF
$439
Cap Rate
3.04%
NOI
$120,000
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Typical Floor Size
9,000 SF
Building FAR
0.08
Lot Size
2.72 AC
Zoning
RNC - Rural and Neighborhood Commercial
Parking
66 Spaces (7.33 Spaces per 1,000 SF Leased)

Amenities

  • 24 Hour Access

MAJOR TENANTS

  • Tenant
  • Industry
  • SF OCCUPIED
  • RENT/SF
  • Lease Type
  • Lease End
  • Acuity Dental
  • Health Care and Social Assistance
  • 4,500 SF
  • $34.00
  • Full Service Gross
  • Dec 2026
Tenant Industry SF OCCUPIED RENT/SF Lease Type Lease End
Acuity Dental Health Care and Social Assistance 4,500 SF $34.00 Full Service Gross Dec 2026

Space Availability

  • Space
  • Size
  • Space Use
  • Condition
  • Available
  • 1st Fl-Ste B
  • 4,500 SF
  • Office
  • Partial Build-Out
  • 30 Days

Excellent location with 200 new homes coming soon as well. Situated between Carnes Crossroads and Goose Creek. This space has been finished off with open space for its current use as an indoor playground, but flooring, walls, HVAC, etc. are all brand new. There is a possibility of a buildout to tenant's use depending on other terms in lease and needs of tenant. The space has many possibilities, great location, ample parking, and with all new finishes and systems, it is a great opportunity.

Space Size Space Use Condition Available
1st Fl-Ste B 4,500 SF Office Partial Build-Out 30 Days

1st Fl-Ste B

Size
4,500 SF
Space Use
Office
Condition
Partial Build-Out
Available
30 Days

1st Fl-Ste B

Size 4,500 SF
Space Use Office
Condition Partial Build-Out
Available 30 Days

Excellent location with 200 new homes coming soon as well. Situated between Carnes Crossroads and Goose Creek. This space has been finished off with open space for its current use as an indoor playground, but flooring, walls, HVAC, etc. are all brand new. There is a possibility of a buildout to tenant's use depending on other terms in lease and needs of tenant. The space has many possibilities, great location, ample parking, and with all new finishes and systems, it is a great opportunity.

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
223-00-00-015
Land Assessment
$13,890
Improvements Assessment
$67,675
Total Assessment
$81,565
  • Listing ID: 31153382

  • Date on Market: 3/7/2024

  • Last Updated:

  • Address: 216 Myers Rd, Summerville, SC 29483

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